The global market for smart irrigation is considered as a highly competitive market and is projected to witness a stiff competition in the next few years, stated a new market research study by Transparency Market Research. The key players in this market are focusing on the development of new product and innovations, which is projected to enhance the growth of the overall market in the next few years. In addition to this, the rising research and development activities is predicted to generate potential growth opportunities for the market players in the next few years. Some of the key players operating in the smart irrigation market across the globe are HydroPoint Data Systems, Inc., Rachio Inc., Orbit Irrigation Products Inc., Rain Bird Corporation, The Toro Company, and Telsco Industries Inc. Furthermore, the increasing number of mergers and acquisitions in the market is another major factor that is estimated to enhance the competitive environment of the market and in the next few years.

As per the market research study by Transparency Market Research, the global market for smart irrigation is projected to reach a value of US$2.32 bn by the end of 2026. The market is predicted to register a promising 13.10% CAGR between 2017 and 2026.

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global Smart irrigation market

North America and Europe to Observe High Growth in Coming Years

The global market for smart irrigation has been categorized on the basis of geography into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. In the last few years, North America held a large share of the overall market and is estimated to remain in the similar situation in the next few years. Furthermore, Europe is expected to hold the second position in the coming few years, thanks to the increasing adoption of smart irrigation. On the other hand, Asia Pacific is projected to register a strong growth rate in the next few years. The high growth of this region can be attributed to the rising contribution from China, South Korea, and India. The rising expenditure on the adoption and implementation of smart irrigation in order to cater to the rising food demands is projected to accelerate the growth of this region in the next few years.

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The global smart irrigation market has been segmented on the basis of end use into education and play grounds, agri-professionals, communities, commercial properties, architect and specifiers, and others. Among these, agri-professionals segment is expected to register a healthy growth rate in the next few years. This segment is considered to hold a major share of the market in the coming few years. On the other hand, the architect and specifiers and communities segments are estimated to register a healthy growth rate in the coming few years.